Jefferies Lowers Numbers on FedEx (FDX) Following Q4 Results
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Price: $97.82 -1.29%
Rating Summary:
13 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
13 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade FDX Now!
Jefferies trimmed estimates and its price target on Hold-rated FedEx (NYSE: FDX) from $105 to $103 following Q4 results.
The firm comments, "The market was quick to shake off FDX's weak F2013 guidance on the view that FDX will raise its outlook due to restructuring actions in October. While we see the restructuring as accretive to out-year forecasts (see below), we have lower expectations for F2013. We'd await a more favorable valuation."
Q1 EPS goes from $1.71 to $1.55, FY13 goes from $7.49 to $7.19 and FY14 goes from $8.47 to $8.43.
For an analyst ratings summary and ratings history on FedEx click here. For more ratings news on FedEx click here.
Shares of FedEx closed at $91.01 yesterday, with a 52 week range of $64.07-$98.66.
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The firm comments, "The market was quick to shake off FDX's weak F2013 guidance on the view that FDX will raise its outlook due to restructuring actions in October. While we see the restructuring as accretive to out-year forecasts (see below), we have lower expectations for F2013. We'd await a more favorable valuation."
Q1 EPS goes from $1.71 to $1.55, FY13 goes from $7.49 to $7.19 and FY14 goes from $8.47 to $8.43.
For an analyst ratings summary and ratings history on FedEx click here. For more ratings news on FedEx click here.
Shares of FedEx closed at $91.01 yesterday, with a 52 week range of $64.07-$98.66.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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